What concept looks at long-term customer engagement and loyalty?

The concept that focuses on long-term customer engagement and loyalty is relationship marketing. This approach emphasizes building strong, lasting relationships with customers rather than merely facilitating one-time transactions. It seeks to foster customer loyalty by understanding and addressing customer needs, preferences, and satisfaction over time. By investing in these relationships, businesses can enhance customer retention and create a loyal customer base, which is essential for sustainable growth and profitability.

Relationship marketing recognizes that customer engagement goes beyond individual purchases; it involves creating ongoing interactions and touchpoints that encourage customers to return and advocate for the brand. This method contrasts with transactional marketing, which primarily prioritizes the sale of goods and services without a deeper focus on post-sale customer interaction or relationship building.